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When the White House announced last week it would be losing the services of Lewis A. Sachs, one of the president’s top economic advisers, the reason given for Sachs’s departure was that his work was largely complete. “He’s leaving now that markets have stabilized and Secretary [Timothy] Geithner has had time to set up a permanent team,” Treasury Department spokesman Andrew Williams said.
But Sachs’s quiet exit, reported in a blog entry on the New York Times web site, comes without any apparent next move for the Wall Street veteran, except for what he told the Times was his desire for time to “catch up on some sleep.”
Not factoring into the decision, Williams said, were recent reports suggesting Sachs’s old employer could be the subject of a federal probe. A December Times report said federal officials were then in the early stages of an investigation into companies that sold a complex breed of securities known as synthetic collateralized debt obligations, or C.D.O.’s, and then made financial bets against them.
More from Ken Silverstein:
Perspective — October 23, 2013, 8:00 am
How pro-oil Louisiana politicians have shaped American environmental policy
Postcard — October 16, 2013, 8:00 am
A trip to one of the properties at issue in Louisiana’s oil-pollution lawsuits
Chances that a refugee worldwide has been displaced for more than five years:
Office of the United Nations High Commissioner for Refugees (N.Y.C.)/ United Nations Relief and Works Agency (Washington)
English mistletoe was at risk of extinction, as were such dependent species as the mistletoe marble moth and the “kiss-me-slow” weevil.
A study led by a physician at Imperial College London posited that Gollum would have defeated Bilbo Baggins in J. R. R. Tolkien’s The Hobbit had he sunned himself more often or eaten quiche instead of blind fish.
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Notes on South Africa’s failed revolution
“I will never know what goes on in your mind, or what that shield of a smile behind which we try to advance should tell us.”